SECTION 1. PURPOSE

This revenue procedure provides guidance regarding the income requirements for qualified residential rental projects financed with exempt facility bonds under § 142(d) of the Internal Revenue Code of 1986, as amended (Code) ¹ and for qualified low-income housing projects under § 42, certain income requirement provisions of which cross-reference to § 142(d). Specifically, this revenue procedure provides guidance on the effect on the income requirements under §§ 142(d) and 42 of the alternative income eligibility requirements for the Department of Housing and Urban Development–Veterans Affairs Supportive Housing (HUD–VASH) program, set forth in the notice published by the Department of Housing and Urban Development (HUD) in the Federal Register on August 13, 2024, 89 F.R. 65769 (HUD–VASH Notice).